Fizzy Drinks for Good: Remedy Drinks Closes Series B Funding Round, Appoints Sales Leader to Accelerate Global Growth
Remedy Drinks, a sugar-free functional kombucha beverage, is gaining popularity at a time when research suggests kombucha can support gut health and combat obesity
Remedy Drinks has closed a Series B funding round from existing investors L Catterton and Kin Group. Sarah and Emmet Condon, two self-proclaimed ‘fermentation fanatics’ from Australia, created the functional beverage brand in their kitchen, which grew to include a variety of mixers, sparkling apple cider vinegar, and energy drinks.
The functional beverage brand takes pride in producing small batches using long-aged brewing processes and incorporates live cultures, organic acids, and antioxidants.
Many kombucha supporters say it improves immune function and aids in food digestion and overall gut health. Researchers believe it can help prevent and treat obesity and its associated comorbidities and support the liver’s detoxification process.
The brand says the latest funding will be used to concentrate on global retail growth through new distribution and retail takeaway. Remedy Drinks is expected to surpass 10,000 retail doors and has existing retail partners such as Walmart, Costco, Kroger, Target, and Albertsons.
The shelf-stable, no-sugar beverage brand also appointed a Chief Customer Officer, Nathan Schy, who came to Remedy Drinks from KIND Snacks, where he served as a Senior Vice President of Sales Strategy and Growth. Schy has also previously worked at Hershey, Campbells, and Danone. In his new role, Schy will oversee building on Remedy Drinks’ momentum with existing and new consumers.
“The kombucha and functional beverage category is very exciting right now and Remedy Drinks is delivering on consumer preferences and unmet needs of the category,” said Schy. “We have a price accessible portfolio that is disrupting the space. I’m looking forward to driving expansion with our retail partners and consumers in 2023.”
With its health-focused approach, Remedy Drinks is making connections in the natural and premium grocery spaces, and is slated to launch its functional beverage in Wegmans, The Fresh Market, and Fresh Thyme this year.
“This funding round from our partners at L Catterton and Kin Group will allow us to continue to fuel our global retail expansion with Nathan Schy at the helm,” said Jamie Schwartz, Chief Operating Officer at Remedy Drinks. “We are emerging quickly in the U.S. market and disrupting the Functional Beverage category with our zero sugar and shelf-stable positioning,”
According to Business Research Company, the global functional beverages market will grow from $131.47 billion in 2022 to $147.7 billion in 2023 as consumers become increasingly health conscious.
Consumers no longer want just a tasty drink; they want it to serve a health purpose, whether that is with immune boosting support, weight management, or has vitamins and amino acids. Packaging Strategies also observes a shift in the beverage industry toward functional beverages in favor of clean-label and organic beverages that customers feel will improve their health.
